- Uber forecaster and Trend researcher Gerald Celente gives a dark forecast for the coming year!
The first decade of the 21st century is going out the same way it came in with a bust and a bang. The dot-com bubble burst in 2000, and the Bailout Bubble will bust in 2010. 9/11 terror ushered America into the decade, and terror will strike again before the decade ends.
The decade long wars waged by US and NAT0 against Afghanistan and Iraq are leading the world to the first Great War of the 21st Century. The 20th century belonged to America, in 2010 Empire America will be breaking apart. The signs are there for all to see. World leaders and most economists see a very different future unfolding. They insist the financial crisis is over and recovery is on the way.
On the military front, America’s new Commander in Chief, Congress and the generals promised their war strategy will bring victory abroad and keep the homeland terror free. Fed a steady diet of junk news du jour by the Cartoon News Networks, the general public remains largely oblivious or at best, grossly misinformed. As 2009 ends, the misadventures of Tiger Woods and the White House party crashers top the media menu.
Increased terror, escalating wars, economic calamity these are just a few of the 2010 Top Trends featured and analyzed at length in our Winter Trends Journal ® that you will receive by early January. In the meantime, to keep you alert, focused, and above all, prepared, within two weeks we will send you an overview of our 2010 Trend forecasts. It is important to have plans and strategies in place for the holidays, a time when so many are caught up in the spirit and paying little attention to the headlines.
Our high alert is not alarmism. Last year, just two days after Christmas, with most people in a holiday state of mind, Israel launched a major war against the Palestinians. There were a number of factors that could have led either to an instant economic meltdown or an escalation of the war beyond the Palestinian borders.
The worst was averted. Had it happened, only those who’d taken proactive measures at the first signs of major hostilities would have gone through the crisis unscathed. The trend lesson? War, terror and calamity are not set to time clocks. Anything can happen, anywhere, at anytime. Prepare for the unexpected. It is the close-combat state of mind.
In addition to the ominous forecasts, we also foresee a variety of social, health, environmental, entertainment, cultural, business and consumer trends that will be both profitable and transformational.
- The gold cartel has been slamming the price of gold for the past week. Should you be concerned? Not at all. The bull picture is still intact despite the US$110 price decline. In fact, it is a great opportunity to buy more. Technically, it is in oversold territory and is approaching the strong 50MA support at about US$1102. Take a cue from all the central banks who are accumulating gold (ie. dumping USD). Forex Yard reports:
MOSCOW, Dec 11 (Reuters) – Russia’s state repository will sell 30 tonnes of gold worth $1 billion to the central bank next week, a source at the body said on Friday, keeping the metal inside Russia after rethinking a plan to sell it on the market. Central banks worldwide are building up their gold reserves as the metal trades near record highs. Gokhran, the Russian repository, cancelled plans to sell the gold on the open market after information about the sale leaked.
“The primary aim is to make sure this gold doesn’t hit the market and influence prices,” said Olga Okuneva, metals and mining analyst at Deutsche Bank in Moscow. “It’s also a way for the Russian central bank to diversify more into gold.” Russia had planned to sell between 20 and 50 tonnes on the open market to help plug a budget deficit incurred during its first recession in a decade. The economy has since shown some signs of early recovery, in line with a rebound in oil prices.
With gold trading at record highs of $1,226.10 per ounce last week, boosted by a weaker dollar, analysts said Russia would be reluctant to sell the metal abroad or to push prices down by releasing a large quantity to the market. Thirty tonnes, or 964,522 ounces, is equivalent to 16 percent of Russia’s gold production last year or up to 1.25 percent of global consumption of the metal.
The source at Gokhran, speaking on condition of anonymity, said Russian President Dmitry Medvedev signed a decree on Dec. 7 approving the sale. “Next week, I think, we will conclude everything,” the source told Reuters. Finance Minister Alexei Kudrin first announced the sale on Nov. 18, saying Gokhran — which falls under his ministry’s watch — would sell at market price and use some of the proceeds to buy diamonds from state-run miner Alrosa. Kudrin, speaking to Reuters on Friday, said the sale would take place by the end of the year. He gave no more details.
Russia holds the world’s third-largest gold and foreign exchange reserves — $451.2 billion as of Dec. 4. It is also the world’s fifth-largest gold miner, ranking between Australia and Peru, with an 8 percent share of global production. The central bank held 19.5 million ounces of gold, or more than $20 billion worth, in its reserves as of Nov. 1
- The prospect of an US default on its debts is not as remote as some think. The reality is that the debts will never be paid back. America will print money out of thin air and inflate away its debts. This is why gold has been rising. Sydney Morning Herald reports:
THE OPPOSITION finance spokesman, Barnaby Joyce, believes the United States government could default on its debt, triggering an ”economic Armageddon” which will make the recent global financial crisis pale into insignificance.
Senator Joyce told the Herald yesterday he did not mean to alarm the public but there needed to be a debate about Australia’s ”contingency plan” for a sovereign debt default by the US or even by a local state government.
”A default by the US means complete economic collapse around the world and the question we have got to ask ourselves is where are we in that,” Senator Joyce said.
Senator Joyce said the chances of a US debt default were distant but real and politicians were not doing the electorate a favour by refusing to acknowledge the risk. He said the Federal Government’s debt would push up interest rates and predicted that some state Labor governments would not be able to repay their borrowings.
”The Federal Government has $115.7 billion in debt, Australian government securities, notes and bonds on issue, and the states have another $170 billion in debt. ”We have to ask whether the states have the capacity to repay that. I would say in some instances they do not, particularly Queensland.”
Senator Joyce said that if the US recovered, global funds would flow back into North America. ”There will be only one way Australia will be able to keep funds here and that is by putting up interest rates, which will therefore bring real costs back to households,” he said. ”That is the first scenario, which is extremely bad for Australia. The worse scenario is where the US doesn’t repay its debt – the $2 trillion in debt it owes to the Chinese, the $1 trillion in debt it has to the Japanese and the $US1 trillion in debt to others – and then we are really nailed.
”The outcome is a shift away from the US dollar as the international trading currency and a shift to the Chinese yuan, and China becomes an immensely powerful player overnight. ”It’s the real financial crisis, and the real financial crisis will mean this preamble we have just had pales into insignificance.” Asked what sort of contingency plan he would advocate, Senator Joyce said it was like trying to prepare for a tidal wave but the local economy should have more self-reliance.
”Things you look for in that economic Armageddon are the capacity to feed ourselves, the capacity to provide the fundamentals in medicines and basic fundamental requirements for our nation.”